"CROSS BORDER" PAYMENT

Alipay and Wechat have gone beyond the country to layout their payment scenarios in many parts of the world. They are becoming the electronic wallets for Chinese people’s consumption overseas. One third of Amazon's 1 million new sellers in 2017 were from China. According to the monitoring data of the China e-business Research Center, the crossborder e-commerce transaction volume in China reached 8.2 trillion yuan in 2017, of which the export cross-border e-commerce transaction volume was 6.3 trillion yuan, a yearon-year increase of 21.2%. Export cross-border e-commerce has become the backbone to drive China's foreign trade development.